About: http://data.cimple.eu/news-article/eaa92013bedd5103dd5c380af949789a178fdde10b7008bfe8d563b5

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About: http://data.cimple.eu/news-article/eaa92013bedd5103dd5c380af949789a178fdde10b7008bfe8d563b5 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	German luxury carmaker BMW said Thursday it expected to get away with a smaller-than-feared fine from EU antitrust authorities for allegedly colluding with other carmakers to avoid competing on clean emissions technology. BMW set aside around 1.4 billion euros ($1.7 billion) in 2019 for a potential fine, but in a surprise announcement said it now expected the penalty to be about a billion euros less than anticipated. "Based on the progress of the proceedings, BMW AG expects... that the EU Commission will significantly reduce its allegations against BMW AG in terms of content and duration," the company said. "This revaluation will result in a positive effect on earnings of around one billion euros in the second quarter of 2021." As a result, BMW said it was raising its full-year profit margin outlook by "around one percentage point". The group had earlier forecast a pre-tax margin for its auto segment of six to eight percent. EU cartel regulators opened a probe two years ago into suspicions that BMW, Volkswagen and Daimler illegally conspired to restrict competition with each other on technologies to reduce harmful emissions, possibly delaying new advances. The allegations are not linked to the 2015 "dieselgate" emissions cheating scandal that erupted when Volkswagen admitted to rigging millions of vehicles to dupe emissions tests. The BMW Group, which also includes the Mini and Rolls Royce brands, reported first-quarter net profits of 2.8 billion euros, as global car sales recovered from last year's coronavirus shock. The Munich-based firm confirmed on Thursday that it expected "a significant increase" in pre-tax earnings for 2021. mfp/bp
schema:headline	BMW expects EU cartel fine to be a billion euros less than feared
schema:mentions	European Commission Mini BMW Volkswagen Electoral fraud European Union Severe acute respiratory syndrome coronavirus 2 Rolls-Royce Motor Cars Profit margin Volkswagen emissions scandal Daimler AG Competition law Microsoft Outlook
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-05-20 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	75 (xsd:integer)

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